Industry Expert: Tottenham face ‘big’ cash flow issues as £100m wiped out

Tottenham could struggle to generate the funds required in order to have a successful summer transfer window.

That is according to former Everton chief executive Keith Wyness, speaking to Football Insider, who states that Spurs have an issue with cash flow.

It comes after the release of the club’s 2024-25 financial accounts, which reported their worst ever pre-tax loss of £121million despite revenue increasing.

The club’s pre-tax loss grew significantly from the £26m recorded in their 2023-24 accounts, whilst operating costs also increased.

Spurs’ finances would be hit further if they suffered relegation from the Premier League this season, with the club just a point above the drop zone with seven matches left to play.

‘Big’ Issue emerges in Tottenham’s accounts

Everton’s former chief Keith Wyness – who served as CEO at Goodison Park between 2004 and 2009 and now runs a football consultancy advising elite clubs – believes Spurs’ player trading model has been “very poor” recently.

Speaking on the new edition of Football Insider‘s Inside Track podcast, Wyness thinks Spurs’ increasing revenue is not keeping pace with costs at the club.

He told Football Insider‘s Inside Track podcast: “The biggest issue for Spurs right now is cash flow.

“Daniel Levy was very good when he financed the new stadium. That was done at a very good time in terms of interest rates. But, nevertheless, it’s (the pre-tax loss) still a big number.

“There was about £1.5billion that was put in, in terms of the stadium costs, and it’s still a big number to be satisfied, even at low interest costs every year. They’ve been very poor in terms of player trading profits over the last season or so.

“The revenue increase has been okay, but it hasn’t been enough to keep pace with everything. All in all, it’s cash. They put in a hundred million, and that’s gone.

“Now it is getting that cash available to be able to do something big if they stay up in the transfer window.”

Roberto De Zerbi contract details revealed

Former Manchester City financial advisor Stefan Borson told Football Insider that Spurs have included clauses in Roberto De Zerbi’s contract.

De Zerbi signed a five-year deal at the club, and Spurs would not have to pay out all five years on the Italian’s contract if they were to sack him.

There is no release clause in the contract, but Borson would be surprised if there was not a reduction clause in De Zerbi’s deal if the club are relegated from the Premier League.

De Zerbi will begin his tenure as Spurs boss away to Sunderland, with the 46-year-old having had over a week to work with his squad before his first game in charge.

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